Vertiv Holdings LLC (VRT) stock soared 5.64% in the pre-market trading session on Monday. This surge follows Morgan Stanley initiating coverage on the company with an Overweight rating and a price target of $150, significantly higher than the stock's current trading levels.
Morgan Stanley's analysts cited Vertiv's strong market position and growth prospects in the data center infrastructure market as key reasons behind their bullish stance. The investment bank expects Vertiv to benefit from the increasing demand for efficient and sustainable data center solutions driven by the digital transformation and cloud computing trends.
With an average rating of "Buy" and a mean price target of $144.39 from analysts polled by FactSet, Wall Street seems optimistic about Vertiv's future performance. Investors are likely reacting positively to Morgan Stanley's initiation, fueling the pre-market rally in the stock.
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